Cut Tourism VAT

Cut tourism VAT, boost british jobs

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Thursday, 05 June 2014

New Motion in Parliament calls for Tourism VAT reduction

Following the Queen’s Speech, Margaret Ritchie MP has tabled a new Early Day Motion in support of the tourism industry, which calls on the Government to introduce a sector-specific VAT reduction for accommodation and attractions as a great to boost the economy, help UK tourism compete and help local businesses.

The motion can be used as a very powerful tool to focus and build political support.  It has already been signed by MPs from all major parties and we would now like to get as many MPs to sign this as possible, to help increase the pressure on the Treasury.  Please ask your MP to support Early Day Motion 40.

The motion states:

“That this House recognises the value of the tourism sector; notes that tourism-related businesses lie at the heart of the local community and economy; further notes that 24 out of 27 EU states, including the Republic of Ireland, take advantage of a reduced rate of VAT for some part of their tourism sector, and that this has made a positive impact by increasing investment and jobs; acknowledges that, as a result, local regions that have a high reliance on the tourism sector are at a competitive disadvantage compared to other EU states; highlights the economic study produced by Professor Adam Blake, using the Treasury’s own modelling technique, which showed that a cut in tourism VAT could increase gross domestic product by up to £4 billion per year; calls on the Chancellor of the Exchequer to introduce a sector-specific VAT reduction for certain tourism-related products, including accommodation and attractions; and further recognises that such a move would strengthen the wider economy, support job creation and generate investment in local businesses.”

The motion can be found on Parliament’s website at: http://www.parliament.uk/edm/2014-15/40

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